American Apparel Inc. Reports First Quarter 2013 Financial Results and Reiterates Outlook for Full Year 2013
Dov Charney, chairman and CEO of American Apparel Inc., also made a statement. "Although we are pleased with our first quarter performance, we will not be satisfied until we exceed prior productivity levels in our stores (see Chart 1), significantly increase our online sales penetration levels (see Chart 2), and drive additional volume through our wholesale channel," he said. "Despite some liquidity challenges over the past two years, we have made the necessary investments that should allow us to exceed our prior EBITDA levels (see Chart 3). We have significantly improved our store presentation, responsibly added stores when it was appropriate to do so, improved technology in all three channels, increased inventory productivity and substantially improved the effectiveness of our supply chain operation."
- Companies:
- American Apparel